Interest rates are expected to continue dropping, which could lead to a sellers’ market by summer, said John Haberberger, mortgage lender with Midwest BankCentre.
“Rates are starting to decrease, and that is a great thing for everyone,” he said. “However, once rates do come down far enough, the market may actually become saturated with homebuyers. … It can become crazy rather quick.”
Haberberger, a St. Louis native with a master’s of business administration degree in finance, has been with Midwest BankCentre for six years.
He said Midwest BankCentre’s approach to lending is based on a simple philosophy – the company cares about its customers.
“We’re looking at what is genuinely the best thing for you, not what makes us money,” he said. “It’s a whole rounded approach focused on the actual customer.”
Haberberger said Midwest BankCentre combines a small community bank approach with the skills and assets of a larger firm.
It’s not uncommon for team members to work across departments to ensure clients get exactly what they need, he said, emphasizing the personalized approach offered throughout the company.
Haberberger said those who have been waiting to buy a home or other property because of high interest rates will be ready to enter the market once rates decrease, leading to increased competition for buyers. Because of that, he said it could be smarter to purchase a house now and simply refinance later.
“When rates do come down, we can always refinance at a very low cost, and now you have the house,” Haberberger said.
The company offers services nationwide, with 16 locations in the St. Louis area, including ones in Arnold, Imperial, Crystal City, De Soto and Fenton. For more information about Midwest BankCentre, visit midwestbankcentre.com.
